Posner Raises Burnup & Sims Stake

Miami Beach financier Victor Posner has invested another $750,000 in Burnup & Sims Inc., renewing the possibility of a takeover attempt at the Plantation- based telecommunications company.

Companies that Posner controls increased their stake in Burnup to 35.8 percent during December, according to a document filed with the Securities and Exchange Commission this week.

DWG Corp. on Dec. 11 purchased 10,000 shares for $6.62 each. Another company in the Posner empire, Salem Corp., acquired 98,400 shares at $7 a share on Dec. 27, bringing to 3.2 million the Burnup shares Posner`s companies own.

These apparently were the major purchases of Burnup stock by Posner in a year and a half or more. Neither representatives for Posner nor Burnup would comment Wednesday.

In September 1982, Burnup chief executive Nick Caporella resigned when he learned Posner had acquired a 29 percent interest in the company. Posner ``has snuffed out the entrepreneurial spirit`` at the company, because of the implied take-over possibility, Caporella said at the time.

When Caporella activated a $4 million so-called ``golden parachute`` in severance pay, Posner filed a federal lawsuit. A judge in Miami enjoined Caporella from disposing of those assets while the cases were pending.

Caporella later returned to his post at Burnup. But in later testimony Posner said he intended to take over the company to protect stockholders` interests.